8-26-08
4:33a GMT – The USD/JPY has been lifted in the past month on a stronger USD and weak news coming out of Japan. As traders look for further direction with the dollar a decent range trade has emerged between 110 and 108. If you prefer buying with the trend then buying at the lower end of this range would be preferred as the pair has been in a steady uptrend for months.
Trading Idea: look for bullish reversal candlesticks to confirm the trade near 108 and bearish candlestick reversals around 110.
(click to enlarge)
Click here to receive my free forex signals via email
Click here for more info on how to use my free forex signals
Click here to learn how much you can earn with our Forex Income Calculator
Discuss this signal with me and fellow traders at the new Forex Discussion Groups
Recent Comments